Tech roars back as Fed hike fears fade
Global stocks push higher
- Global stocks are on track for a third straight weekly gain
- The S&P 500 and global benchmark hit record highs
- The Nasdaq 100 jumped more than 1%, led by renewed AI optimism
AI trade makes a comeback
- Strong tech earnings are bringing investors back to AI
- Semiconductor stocks are rebounding as demand for AI hardware stays strong
- South Korea’s Kospi surged 10% this week, with Samsung and SK Hynix up more than 15%
Fed fears lose steam
- Cooling US inflation and softer jobs data are easing rate-hike worries
- Markets now see about a 35% chance of a Fed hike in September
- Short-term Treasuries are outperforming as investors scale back hike bets
Corporate watch
- OpenAI: Revenue run rate tops $40B, strengthening IPO ambitions
- AMD: Raises $4.75B in its biggest-ever US dollar bond deal
- Applied Materials: Forecast beats estimates, but investors remain cautious
- JD.com: Reports its first quarterly revenue decline since its 2014 listing
Asia takes the spotlight
- Kospi jumps as AI stocks rebound
- Japan’s yen stays near ¥160 per dollar
- China’s 10-year bond yield hits its lowest level since July 2025
The big picture
AI optimism is back, inflation is cooling and bets on another Fed hike are fading. For now, investors are shifting their focus from rate fears back to earnings and the AI growth story.